Do you know that during the great depression, massive fortunes where made?
During cycles of economic downturns history records thousands of new millionaires or millionaires that prospered greatly. That is why being debt free and having cash reserves is so crucial.
When you have cash in a down cycle you can buy a large variety of goods at great prices. Plus you are able to add to the economy. You must not buy into the negative media. Economic cycles are part of the ebb and flow of economies and believe me astute business people are aware of this and the opportunities it represents.
If you have a viable business-look for the opportunity in front of you. If you have a job and possibly just lost your job, don't start focusing on getting another job long term ( short term yes for finances ), long term- start thinking of having your own business.
People today realize that they cannot have all their eggs in one basic. We must all diversfy and developing multiple sources of income is where we need to focus.
With the Internet age upon us, we all have numerous resources that can add to our overall success.
Don't be alarmed with the gloom and doom! In the early 1800's the world was in a panic due to a scarcity in whale oil ! This too shall pass.
Jacques
CreatingWealthThatLasts
1 comment:
Dear Jacques
One of my best friends was my husband Craig’s late Grandpa Blower. Grandpa Blower used to love to tell the story of the great depression. He was one that really capitalizes on all of the opportunities of the doom and gloom time. When everyone else was panicking Grandpa Blower stay cool and level headed.
You are so right “This too shall pass”
Giovanna Garcia
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